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Purpose: This blog provides brief insurance news and digest for the busy executives. It is a handy archive covering major insurance news in Malaysia and nearby countries. 

Disclaimer: While all attempts are made to ensure the accuracy of the news herein, we are not liable for any loss arising from the use of any information contained in this blog.

Reproduction: You may reproduce materials published here provided that the source (actuaries.com.my/insurance-news) is properly acknowledged.

DBS' bancassurance deal attracts many insurers 

DBS Bank's exclusive 15-year bancassurance deal has attracted many insurers including AIA, Prudential, Manulife, Aviva and Sun Life. http://bit.ly/TAS150205b

Thursday, February 5, 2015 6:04:00 PM Categories: AIA Aviva Bancassurance Manulife Prudential Sun Life
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Manulife launched EGSP with Alliance Bank 

Insurance News

  -  April 24, 2014
Manulife launched Elite Global Select Plan (EGSP) with Alliance Bank and targeted 2000 to 3000 policies in 1st year. EGSP is a 10-year close-ended single premium investment-link plan with investments in multiple asset classes across Asia, Europe and the US.  http://bit.ly/TAS140424b 

 

Posted by Loo Hai Friday, April 25, 2014 10:27:00 AM Categories: Manulife Product
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Manulife's Cover-Me-Again 

Insurance News

  -  March 11, 2014
Manulife launched Cover-Me-Again, a critical illness plan that allows second claim.  http://bit.ly/TAS140311f 

 

Posted by Loo Hai Tuesday, March 11, 2014 8:52:00 PM Categories: Manulife Product
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Manulife to diversify distribution channels 

Insurance News

  -  October 15, 2013
Manulife wants to increase its 1,800 agents by another 200 by next year, focusing on full-time agents. The company currently distributed 97% of its products through agency channel and is looking to reduce this to 60-70% in the next 2 years with development of bancassurance and financial advisers channels.
Manulife seeks more full-time and committed agents to help achieve target - The Star PETALING JAYA: After having climbed the ranks to become one of the top-10 life insurers in Malaysia, Manulife Insurance Bhd is banking on its multi-distribution channels to compete for a larger slice of the competitive insurance market.

 

Posted by Loo Hai Tuesday, October 15, 2013 5:28:00 PM Categories: Bancassurance Manulife
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AmBank wants control of AmTakaful 

Insurance News

  -  September 23, 2013
AmBank prefers to maintain control of AmTakaful while is willing to let go of the control of AmLife. Sources said that AmBank is prepared to sell up to 51% of AmLife, instead of 70% as reported earlier.  The 3 potential buyers are Manulife, Metlife and ACE.
AmBank still in talks on AmLife Insurance - The Edge KUALA LUMPUR: AmBank Group Bhd, which is spending RM600 million to reposition its brand, is willing to let go of the controlling stake in its life insurance business but prefers to keep control of the takaful insurance business.

 

Posted by Loo Hai Monday, September 23, 2013 7:11:00 PM Categories: ACE Jerneh AmMetLife Manulife Merger
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PRS NESTEGG now comes with vesting option 

Insurance News

  -  August 15, 2013
Manulife has introduced a vesting option in its PRS NESTEGG series for employers whereby employees will be entitled to their PRS after meeting certain vesting conditions such as length of service. The new feature is marketed as a staff retention tool for employers. If the vesting conditions are not fulfilled, the PRS contributions will be channeled back to the employers. Presumably the tax benefits associated with PRS contributions will also need to be paid back to IRB?
Manulife introduces vesting in PRS - The Sun Daily PETALING JAYA (Aug 14, 2013): Manulife Asset Management Services Bhd (MAMSB) has introduced the vesting component to its Private Retirement Scheme (PRS) – the Manulife PRS NESTEGG Series.

 

Posted by Loo Hai Thursday, August 15, 2013 9:05:00 PM Categories: Manulife PRS Tax
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Manulife, ACE and MetLife shortlisted for AmLife and AmTakaful 

Insurance News

  -  June 26, 2013
Manulife, ACE and MetLife are apparently the shortlisted bidders for AmLife and AmTakaful.
Manulife, ACE among bidders for AMMB’s insurance stake - The Star KUALA LUMPUR: Insurers Manulife Financial Corp and ACE Insurance are among the shortlisted bidders for a majority stake in the life insurance division of AMMB Holdings Bhd, a deal that could be worth as much as US$600mil, people with knowledge of the sale process said.

 

Posted by Loo Hai Wednesday, June 26, 2013 10:16:00 PM Categories: AmMetLife AmMetLife Takaful Manulife Merger
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